Use Short term Bridging Loan to bridge the cash gap
One day on my way to the office, I noticed something. No, it was not a gorgeous dress or expensive jewellery. But, a house, it was beautiful. At the very first glimpse, I decided to buy it at any cost. Now, I feel proud to live in that house. Thanks to Bridging Loan, it is only due to it my dream to own that house could see light of the day, which could have been impossible with little savings in my account.
Bridging loan is a short-term loan offered by commercial lenders to borrow for a specific purpose such as for critical and immediate purchase of a property, pending arrangement of a long-term mortgage. Bridging loans are also known as “interim financing”, “gap financing or a “swing loan”.
Bridging loans are commonly used to bridge the cash gap when completing commercial real estate transactions. As there can often be a time lag between the sale of one property and the purchase of another, a bridge loan allows a homeowner more flexibility.
A borrower can be an individual or corporations and can be customized for many different situations. The purpose of borrowing...
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